Purchase book is maintained to record
A. All credit purchases
B. All cash purchases
C. Purchases of goods
D. None of the above
Answer: Option A
Solution(By Examveda Team)
A purchase book is a special purpose subsidiary book prepared by a business to record all credit purchases.This Question Belongs to Commerce >> Accounting
Join The Discussion
Comments ( 2 )
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Purchase book records credit transactions of goods. Not all credit transactions
Purchase book is used to record credit purchase of goods